Arkema announced the proposed acquisition by the Bostik-Nitta joint-venture of the industrial adhesives of Nitta-Gelatin Inc., as well as the construction of a new world-scale adhesives plant in Japan.
These operations will enable Bostik to supply Japanese customers in the buoyant nonwoven markets for hygiene applications, as well as in the packaging, labeling, transportation and electronics industrial markets.
Bostik-Nitta JV, majority owned by Bostik, will strengthen its adhesives business in the Japanese market with two projects:
This acquisition, representing sales of some 30 million euro, will help step up the development of these activities in fast-growing markets such as electronics and automotives. The acquisition is due to be completed this summer subject to approval by anti-trust authorities.
Bostik-Nitta JV will also invest in the construction of a new world-scale plant that will include several production lines dedicated on the one hand to adhesives for the nonwoven market for hygiene applications, and on the other to the industrial adhesives markets. The new facility, to be located in Nara, Japan, should come on stream early 2020. It will enable Bostik-Nitta JV to support the strong growth of customers in the Japanese hygiene market and to reinforce the production of some industrial adhesives product lines.